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On September 6 , Irene Westing purchased one bond of Mick Corporation at 9 6 . 7 5 % . The bond pays 1 0
On September Irene Westing purchased one bond of Mick
Corporation at The bond paysinterest on
June and December The stockbroker told Irene that she would
have to pay the accrued interest and the market price of the bond
and a $ brokerage fee.
What was the total purchase price for Irene? Assume a day year
each month is days in calculating the accrued interest.
Hint:Final cost Cost of bond Accrued interest
Brokerage fee. Calculate time for accrued
interest.Round your answer to the nearest
cent.
Total purchase price
$
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